My same source, who is reasonably connected into the commercial property market in NZ has said that Terry is effectively insolvent and has been for months and he can't quite understand how he has managed to keep his head abve water.[/QUOTE]
So two months ago he was insolvent but today he is only "close to insolvency". Well at least he seems to be moving in the right direction!
[QUOTE=james dean today]I don't believe the current situation is sustainable and I don't think without a cash injection, a restructure of Terry's business or a change in ownership we will get through the season.
If you talk to people in the property industry the general view is that
Terry does not have a business to restructure...i.e. he is close to
insolvency.
So two months ago he was insolvent but today he is only "close to insolvency". Well at least he seems to be moving in the right direction!
[QUOTE=james dean today]I don't believe the current situation is sustainable and I don't think without a cash injection, a restructure of Terry's business or a change in ownership we will get through the season.
I'm also glad to see that you are now hedging your bets and moving your prediction of the Nix' imminent demise out to 'sometime during this season'. Again, at least we seem to be moving in the right direction.
Honestly , I think that some of the doom merchants now have so much invested in their own dire predictions that they would almost be glad to see the Nix go under so they could say "I told you so".
The thing that pisses me off the most is the possibility that all this angst from the doom merchants actually has a negative impact on the much-needed season ticket sales. Talk about a self-fulfilling prophesy, that really would be an example of "the worst kind of support".
Everybody just cheer the f**k up and buy a season ticket.